Answered step by step
Verified Expert Solution
Question
1 Approved Answer
Mar 100 Take me to the test as in the missing numbers in the inventory schedule using the weighted average cost inventory valuation method. This
Mar 100 Take me to the test as in the missing numbers in the inventory schedule using the weighted average cost inventory valuation method. This company uses the perpetual inver Do not enter doller sig at comes in the routes Pound answers to decimal places. When caliculating the unit cost round to 2 desimal places as well. Inventory Schedule Purchases Sales Balance Transaction Description Quantity Amount Quantity Amount Quantity Amount Opening Balance o $0 1 Purchase from AAA CO. 600 $6.000.00 600 6000 2 Sale to 555 C 300 $3000 300 $3.000.00 Sale to TTT Co $ 150 1500 750 $ 1500 Purchase from CB Co. 60 596000 210 52460 Sale to UUU CO 405468.57 170 199143 byf the LIFO method had been used, what would the value of COGS been for the sale to UUU CO? COGS - 5640 the FIFO methodlad been used what would the value of COGS been for the sale to UUU CO? COGS at the specific identification method had been used. What would the value of COGS been for the sale to UUU CO. Assume 20 of the units sold to DUU Co were COGS Check Notes. The check button does not submit your attempt to submit the Take me to the text a) Fill in the missing numbers in the inventory schedule using the weighted average cost inventory valuation method. This company uses the perpetual inventory system Do not enter dollar ions or commas in the outboxes Round all onwers to decimal places when calculating the unit cost round to 2 decimal places as well Inventory Schedule Purchases Sales Balance Transaction Description Quantity Amount Quantity Amount Quantity Amount Opening Balance $0 1 Purchase from CCC Co. 350 $4,200.00 $ 350 w $ 4200 #2 $ 250 3000 Sale to CQ Co. > 100 $1,200.00 $ 39 $ 468 Sale to EEE CO > 61 S732 3 14 5 Purchase from LLL CO. 118 $1,652.00 $ 179 S 2384 Sale to co 5 102 S 1358.48 77 $ 1025.52 by if the LIFO method had been used what would the value of COGS been for the sale to WW CO? COGS - $ 1428 c) if the PFO method had been used, what would the value of coas been for the sale to WW CO? COGS $ 1224 dit the specific identification method had been used, what would the value of Cogs been for the sale to WW Co. Assume 34 of the units sold to VW Co. were purcha COGS$1326 Check Note: The "check" button does not submit your attempt to submit the attempt, go to the end of the quiz and click on the submit all and finish button
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started